Some 1 Million Bank Workers Strike in India

Posted August 5th, 2011 at 2:10 pm (UTC-5)
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An estimated 1 million bank employees in India observed a day-long strike Friday to protest government plans to reform the banking industry.

The United Forum of Bank Unions organized the strike, which observers say disrupted some banking operations throughout the country.

An official with the group said his members were opposed to the government’s Banking Law Amendment Bill that would allow bank shareholders to have more voting rights.

He said the group also opposes deregulation of the financial sector, including a decrease in the government’s ownership stake in public sector banks.